Equities analysts predict that GenMark Diagnostics, Inc (NASDAQ:GNMK) will announce sales of $15.82 million for the current quarter, Zacks reports. Three analysts have provided estimates for GenMark Diagnostics’ earnings, with the highest sales estimate coming in at $16.02 million and the lowest estimate coming in at $15.44 million. GenMark Diagnostics posted sales of $14.89 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The firm is scheduled to report its next quarterly earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that GenMark Diagnostics will report full-year sales of $15.82 million for the current year, with estimates ranging from $51.20 million to $52.52 million. For the next year, analysts anticipate that the firm will report sales of $69.57 million per share, with estimates ranging from $67.27 million to $71.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for GenMark Diagnostics.
Several research firms have recently weighed in on GNMK. Needham & Company LLC decreased their price objective on GenMark Diagnostics from $15.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price target on shares of GenMark Diagnostics in a report on Monday, October 30th. Raymond James Financial reaffirmed a “market perform” rating on shares of GenMark Diagnostics in a report on Friday, November 3rd. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, BidaskClub downgraded GenMark Diagnostics from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $11.80.
In related news, insider Hany Massarany sold 8,252 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $4.74, for a total transaction of $39,114.48. Following the completion of the sale, the insider now directly owns 362,957 shares of the company’s stock, valued at $1,720,416.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 20,126 shares of company stock valued at $96,564. Corporate insiders own 7.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlueCrest Capital Management Ltd acquired a new stake in shares of GenMark Diagnostics during the second quarter worth $126,000. Legal & General Group Plc lifted its holdings in GenMark Diagnostics by 2.1% in the second quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock valued at $137,000 after acquiring an additional 240 shares during the period. Susquehanna International Group LLP acquired a new stake in GenMark Diagnostics in the second quarter valued at $137,000. Wrapmanager Inc. acquired a new stake in GenMark Diagnostics in the third quarter valued at $172,000. Finally, Voya Investment Management LLC lifted its holdings in GenMark Diagnostics by 17.5% in the second quarter. Voya Investment Management LLC now owns 19,725 shares of the medical equipment provider’s stock valued at $233,000 after acquiring an additional 2,943 shares during the period.
Shares of GenMark Diagnostics (NASDAQ GNMK) opened at $5.15 on Monday. GenMark Diagnostics has a fifty-two week low of $3.63 and a fifty-two week high of $13.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.77 and a current ratio of 2.97.
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GenMark Diagnostics Company Profile
GenMark Diagnostics, Inc is a molecular diagnostics company. The Company is focused on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. It develops and commercializes multiplex molecular tests based on its eSensor electrochemical detection technology.
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